UAE approves slightly higher federal spending for 2014 | Arab News — Saudi Arabia News, Middle East News, Opinion, Economy and more.:
"The UAE approved a federal budget of AED46 billion ($12.5 billion) for 2014, half of which will go for development and social benefits, Prime Minister Sheikh Mohammed bin Rashid Al-Maktoum said.
The projected federal spending of the UAE is slightly higher than the AED44.6 billion originally pencilled in for 2013.
“I requested all the ministers to efficiently spend their budgets in the interest of the citizens’ happiness and welfare,” Sheikh Mohammed, who is also Dubai’s ruler, wrote on his official Twitter account.
He did not provide a figure for revenue in the budget, which was approved as a part of a three-year federal spending plan of 140 billion dirhams for 2014-2016."
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